KRI Kobo Resources Inc

• Ongoing drilling confirms strong gold mineralization 150 m north of the Jagger Zone core, with mineralization remaining open
• Second drill mobilized to accelerate 10,000 m exploration program, which is approximately 62% complete

Kobo Resources Inc. ("Kobo” or the "Company") (TSX.V: KRI) is pleased to report additional gold intercepts from the Jagger Zone at its 100%-owned Kossou Gold Project (“Kossou”) in Côte d’Ivoire. Building on recent success extending mineralization 250 metres (“m”) to the south of the Jagger Zone, results from three new diamond drill holes have now extended mineralization by 150 m to the north, confirming strong gold continuity. Mineralization remains open to the north and at depth, further highlighting the potential of this highly prospective target.

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Figure 1: Jagger Zone Diamond Drill Results and Collar Location Map (Graphic: Business Wire)

Diamond Drill Results – Highlights:

• KDD0040
  • 11.0 m at 3.78 g/t Au from 39.0 m, incl. 2.0 m at 18.60 g/t Au from 40.0 m
  • 14.0 m at 1.14 g/t Au from 101.0 m, incl. 5.0 m at 2.10 g/t Au from 102.0 m
• KDD0041
  • 12.0 m at 1.29* g/t Au from 127.0 m
  • 3.0 m at 3.36 g/t Au from 136.1 m
• KDD0042
  • 8.0 m at 0.83 g/t Au from 92.0 m
  • 3.0 m at 1.18 g/t Au from 117.0 m

Edward Gosselin, CEO and Director of Kobo commented: “Extending mineralization at the Jagger Zone by an additional 150 m to the north is a significant step in further defining the scale of this target. Combined with previous drilling that extended mineralization 250 m to the south, the Jagger Zone now represents a zone with at least 650 m of strike length that remains open to the north and at depth. To date, we have completed over 6,100 m of drilling and the results continue to affirm its potential as a priority exploration focus. As our understanding of the structural controls improves, we plan to target this northern extension with additional drilling in the weeks ahead.”

He continued: “With nearly 62% of our 10,000 m diamond drilling program completed, we are advancing efficiently across multiple high-priority targets, including the Kadie and Road Cut Zones. To expedite the program, we have mobilized a second drill rig, both of which are operating 24 hours a day and will resume after a brief holiday break in early January 2025. The program remains on track for completion by the end of January and our fully operational camp provides critical infrastructure to support this expanded effort, ensuring we can continue delivering results early in the New Year.”

The latest round of drilling targeted the area immediately north of the "core" of the Jagger Zone (see Figure 1), marking the first diamond drill holes in this direction. These efforts successfully extended mineralization by an additional 150 meters to the north. Gold mineralization remains open in this direction based on the latest interpretation. Complete drill result details are provided in Table 1.

Diamond drill holes KDD0040 to KDD0042, targeting sections JZ400, JZ350 and JZ300, successfully intersected gold mineralization within the Jagger Shear Zone, consistent with expectations. This extension, along with previous results to the south, including KDD0032 featuring 7.0 m at 3.66 g/t Au and KDD0034 returning 9.0 m at 1.39 g/t Au (see press release dated November 18, 2024), exhibits a minimum strike extent of approximately 650 m. As demonstrated by previous results, there are a number of sub-parallel zones of gold mineralisation within the broadly mineralised Jagger Shear Zone. Based on core logging and analytical results, the Company has identified up to 6 parallel mineralised structures within the Jagger Shear Zone, all showing promising continuity laterally and to depth.

Drill holes KDD0040 and KDD0041 represent the first tests on their respective cross-sections, with results suggesting that additional drilling is needed to further trace mineralization at depth. Drill hole KDD0042 was drilled to help develop a stronger understanding of the controls to mineralisation intersected in the original Reverse Circulation (“RC”) drilling completed in Q3 2023 (see press release dated August 14, 2023). Results from previous RC drilling, KRC047 (6.0 m at 1.66 g/t Au from 47 m) and KRC048 (5.0 m at 1.2 g/t Au) compare favourably with holes KDD0040 and KDD0041, providing the Company with greater insight into the distribution and orientation of quartz-carbonate-tourmaline veining, along with associated silicification and sericite-pyrite alteration. KDD0042 is also the most northerly diamond drill hole on the Jagger Shear Zone and mineralisation remains open to in this direction.

Table 1: Summary of Significant Diamond Drill Hole Results

BHID

East

North

Elev.

Az.

Dip

Depth

From (m)

To (m)

Int. (m)

Au g/t

Target

KDD0040

228973

775437

310

70

-50

227.45

 

8.0

12.0

4.0

2.03

Jagger

 

 

39.0

50.0

11.0

3.78

Jagger

 

incl.

40.0

42.0

2.0

18.60

Jagger

 

 

56.0

61.0

5.0

1.14

Jagger

 

 

101.0

115.0

14.0

1.14

Jagger

 

 

 

 

 

 

 

incl.

102.0

107.0

5.0

2.10

Jagger

 

 

172.0

174.0

2.0

0.81

Jagger

 

 

202.0

210.0

8.0

0.51

Jagger

KDD0041

228981

775494

302

70

-50

176.45

 

72.0

79.0

7.0

0.51

Jagger

 

 

127.0

139.0

12.0

1.29*

Jagger

 

 

127.0

130.0

3.0

1.66

Jagger

 

 

136.1

139.0

3.0

3.36

Jagger

 

 

146.0

148.0

2.0

0.49

Jagger

KDD0042

228981

775548

289

70

-50

179.45

 

69.0

71.0

2.0

0.89

Jagger

 

 

80.0

82.0

2.0

0.56

Jagger

 

 

92.0

100.0

8.0

0.83

Jagger

 

 

 

 

 

 

 

 

117.0

120.0

3.0

1.18

Jagger

Notes:

• Cut off using 2.0 m at 0.30 g/t Au
• Intervals are reported with no more than 3.0 m of continuous internal dilution expect where indicated by *

An accurate dip and strike and controls of mineralisation are unconfirmed at this time and the true width of mineralisation are unconfirmed at this time. Drill holes are planned to intersect mineralised zones perpendicular to interpreted targets. All intercepts reported are downhole distances.

Sampling, QA/QC, and Analytical Procedures

Drill core was logged and sampled by Kobo personnel at site. Drill cores were sawn in half, with one half remaining in the core box and the other half secured into new plastic sample bags with sample number tickets. Samples are transported to the SGS Côte d’Ivoire facility in Yamoussoukro by Kobo personnel where the entire sample was prepared for analysis (prep code PRP86/PRP94). Sample splits of 50 grams were then analysed for gold using 50g Fire Assay as per SGS Geochem Method FAA505. QA/QC procedures for the drill program include insertion of a certificated standards every 20 samples, a blank every 20 samples and a duplicate sample (split of the 1 m original sample) every 20 samples. All QAQC control samples returned values within acceptable limits.

Review of Technical Information

The scientific and technical information in this press release has been reviewed and approved by Paul Sarjeant, P.Geo., who is a Qualified Persons as defined in National Instrument 43-101. Mr. Sarjeant is the President and Chief Operating Officer and Director of Kobo.

About Kobo Resources Inc.

Kobo Resources is a growth-focused gold exploration company with a compelling new gold discovery in Côte d'Ivoire, one of West Africa’s most prolific and developing gold districts, hosting several multi-million-ounce gold mines. The Company’s 100%-owned Kossou Gold Project is located approximately 20 km northwest of the capital city of Yamoussoukro and is directly adjacent to one of the region’s largest gold mines with established processing facilities.

The Company is drilling to unlock the potential size and scale of Kossou within 9+ km strike length of highly prospective gold in soil geochemical anomalies with excellent rock and trench sampling, as well as drill results. Significant gold mineralisation has been identified at three main targets within a 300 m wide, 2+ km long, pervasively altered structural corridor defining a potentially large orogenic gold system. In 2023, the Company completed approximately 5,900 meters of reverse circulation (RC) drilling and 5,400 meters of trenching, alongside 4,368 meters of diamond drilling in 2024. Moving forward, the Company is conducting an additional 10,000 m of core diamond drilling during the remainder of 2024 at key targets at the Kossou Gold Project. The Company also plans on additional exploration on its Kotobi Permit and pending approval for over 600 km2 of prospective ground as part of its strategic efforts to expand its footprint in Côte d'Ivoire.

Kobo remains committed to identifying and developing new opportunities to enhance its land position and growth in the region. Kobo offers investors the exciting combination of high-quality gold prospects led by an experienced leadership team with in-country experience. Kobo’s common shares trade on the TSX Venture Exchange under the symbol "KRI”. For more information, please visit www.koboresources.com.

Twitter: @KoboResources | LinkedIn: Kobo Resources Inc.

NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Cautionary Statement on Forward-looking Information:

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, Kobo assumes no obligation and/or liability to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

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For further information: Edward Gosselin Chief Executive Officer and Director 1-418-609-3587 ir@kobores.com